LEADER 04976nam 22006491 450 001 9910790614903321 005 20230803022155.0 010 $a1-4529-4920-4 010 $a1-4529-3988-8 035 $a(CKB)2550000001139014 035 $a(SSID)ssj0001040708 035 $a(PQKBManifestationID)11577146 035 $a(PQKBTitleCode)TC0001040708 035 $a(PQKBWorkID)11001719 035 $a(PQKB)11540146 035 $a(MiAaPQ)EBC1511181 035 $a(StDuBDS)EDZ0001170768 035 $a(OCoLC)862077266 035 $a(MdBmJHUP)muse31476 035 $a(Au-PeEL)EBL1511181 035 $a(CaPaEBR)ebr10791926 035 $a(CaONFJC)MIL538684 035 $a(OCoLC)862050285 035 $a(EXLCZ)992550000001139014 100 $a20130808d2013 ub 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aHarriman vs. Hill $eWall Street's great railroad war /$fLarry Haeg 210 1$aMinneapolis :$cUniversity of Minnesota Press,$d2013. 215 $a1 online resource (393 pages) $cillustrations 300 $aBibliographic Level Mode of Issuance: Monograph 311 $a0-8166-8364-6 311 $a1-306-07433-9 320 $aIncludes bibliographical references and index. 327 $aMachine generated contents note: -- Contents -- Preface -- Acknowledgments -- Dramatis Personae, 1901 -- Introduction: A Railroad World -- 1. Mr. Morgan and Mr. Hill -- 2. Mr. Harriman and Mr. Schiff -- 3. The End of the "Days of Small Things" -- 4. The Battle for the Burlington -- 5. "Peacemakers" Arming for Combat -- 6. "The Weak Link in Your Chain" -- 7. The Consequences of a "Hostile Act" -- 8. Decision at Temple Emanu-El -- 9. "Hell is Empty and All the Devils are Here" -- 10. Northern Insecurities -- 11. The "Big Stick" -- 12. A Thunderbolt out of the Blue -- 13. Great Cases and Bad Law -- Epilogue: The Last Corner -- Appendixes: -- Associate Justice Holmes Dissent -- 1901 Railroads -- 1901 Wall Street Primer -- Notes -- Bibliography -- Index. 330 $a" In 1901, the Northern Pacific was an unlikely prize: a twice-bankrupt construction of the federal government, it was a two-bit railroad (literally--five years back, its stock traded for twenty-five cents a share). But it was also a key to connecting eastern markets through Chicago to the rising West. Two titans of American railroads set their sights on it: James J. Hill, head of the Great Northern and largest individual shareholder of the Northern Pacific, and Edward Harriman, head of the Union Pacific and the Southern Pacific. The subsequent contest was unprecedented in the history of American enterprise, pitting not only Hill against Harriman but also Big Oil against Big Steel and J. P. Morgan against the Rockefellers, with a supporting cast of enough wealthy investors to fill the ballroom of the Waldorf Astoria. The story, told here in full for the first time, transports us to the New York Stock Exchange during the unfolding of the earliest modern-day stock market panic. Harriman vs. Hill re-creates the drama of four tumultuous days in May 1901, when the common stock of the Northern Pacific rocketed from one hundred ten dollars a share to one thousand in a mere seventeen hours of trading--the result of an inadvertent "corner" caused by the opposing forces. Panic followed and then, in short order, a calamity for the "shorts," a compromise, the near-collapse of Wall Street brokerages and banks, the most precipitous decline ever in American stock values, and the fastest recovery. Larry Haeg brings to life the ensuing stalemate and truce, which led to the forming of a holding company, briefly the biggest railroad combine in American history, and the U.S. Supreme Court ruling against the deal, launching the reputation of Justice Oliver Wendell Holmes as the "great dissenter" and President Theodore Roosevelt as the "trust buster." The forces of competition and combination, unfettered growth, government regulation, and corporate ambition--all the elements of American business at its best and worst--come into play in the account of this epic battle, whose effects echo through our economy to this day. "--$cProvided by publisher. 606 $aCapitalists and financiers$zUnited States$vBiography 606 $aRailroads$zUnited States$xHistory$y20th century 606 $aSpeculation$zUnited States$xHistory$y20th century 606 $aStock exchanges$zUnited States$xHistory$y20th century 615 0$aCapitalists and financiers 615 0$aRailroads$xHistory 615 0$aSpeculation$xHistory 615 0$aStock exchanges$xHistory 676 $a385/.1097309041 686 $aHIS036000$aBUS070100$aTRA004010$2bisacsh 700 $aHaeg$b Lawrence Peter$f1945-$01494252 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910790614903321 996 $aHarriman vs. Hill$93717679 997 $aUNINA